Ethereum/USD technical analysis summary
Sell Stop: Below 3250.15.
Stop Loss: Above 3370.40.
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Buy |
| Fibonacci | Sell |
Ethereum/USD chart analysis
The ETHUSD technical analysis of the price chart on 1-hour timeframe shows ETHUSD: H1 has breached below the 200-period moving average MA(200) following a breach below the support line after multiple tests of. We believe the bearish momentum will continue after the price breaches below 3250.15. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 3370.40. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental analysis of crypto - Ethereum/USD
Ethereum gas fees fell by 90% in 6 months. Will the ETHUSD price reverse its retreating?
The average gas fee on the Ethereum network is currently $5.81, 90% less than the average charged in November 2021, according to crypto data intelligence platform Santiment. A drop in transaction fees is bullish for a crypto price. However the current setup is bearish for ETHUSD.
Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.
This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.
Recommended Content
Editors’ Picks
SEC sues Cumberland DRW for acting as an unregistered securities broker, Solana ETFs at risk
The Securities & Exchange Commission filed a lawsuit on Thursday against Chicago-based trading firm Cumberland DRW for operating as an unregistered securities dealer. The regulator mentioned several cryptocurrencies in the suit including Solana.
Bitcoin risks worst October in six years following high US inflation data and S&P 500 correlation
Bitcoin and the crypto market trended downward on Thursday as the US Consumer Price Index data for September showed that inflation is rising again, reducing the already slim chances of the Federal Reserve cutting its interest rate by another 50 basis points in November.
Uniswap unveils Layer-2 solution Unichain as part of Optimism Superchain
Uniswap saw double-digit gains on Thursday after unveiling the launch of its DeFi Layer-2 solution, Unichain. Unichain is built to provide seamless cross-chain transactions while scaling the Ethereum blockchain.
Ethereum Price Forecast: ETH could decline to $2,200 amid rising US inflation and exchange reserves
Ethereum and the crypto market saw a second consecutive day of losses after the September US Consumer Price Index data came in stronger than expected. September's inflation fell to 2.4% — but above expectations of 2.3%.
Bitcoin: Is BTC sell-off over?
Bitcoin price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off. The decline was also supported by falling institutional demand for ETFs. BTC bulls seem to be holding strong at a critical support level.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.